Sei Investments Co. Acquires 29,376 Shares of ON Semiconductor Corporation (NASDAQ:ON)

Sei Investments Co. grew its holdings in shares of ON Semiconductor Corporation (NASDAQ:ONFree Report) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,681,834 shares of the semiconductor company’s stock after acquiring an additional 29,376 shares during the period. Sei Investments Co. owned about 0.62% of ON Semiconductor worth $253,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ON Semiconductor by 40.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,028,727 shares of the semiconductor company’s stock worth $97,270,000 after buying an additional 294,276 shares during the period. Shelton Capital Management lifted its stake in ON Semiconductor by 1,826.6% in the 2nd quarter. Shelton Capital Management now owns 53,116 shares of the semiconductor company’s stock worth $5,024,000 after purchasing an additional 50,359 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in ON Semiconductor by 2.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,796 shares of the semiconductor company’s stock worth $3,575,000 after purchasing an additional 822 shares in the last quarter. Mutual Advisors LLC purchased a new stake in ON Semiconductor in the 2nd quarter worth $244,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in ON Semiconductor by 85,638.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 99,180,073 shares of the semiconductor company’s stock worth $9,380,451,000 after purchasing an additional 99,064,396 shares in the last quarter. Institutional investors own 96.36% of the company’s stock.

ON Semiconductor Stock Performance

Shares of ON Semiconductor stock traded down $2.04 during trading on Tuesday, hitting $68.64. 2,266,445 shares of the company’s stock were exchanged, compared to its average volume of 6,683,532. The stock has a market capitalization of $29.56 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 3.36 and a beta of 1.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.60 and a current ratio of 2.44. The business has a 50-day simple moving average of $83.29 and a 200-day simple moving average of $89.57. ON Semiconductor Corporation has a 52-week low of $59.61 and a 52-week high of $111.35.

ON Semiconductor (NASDAQ:ONGet Free Report) last released its quarterly earnings results on Monday, October 30th. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.34 by $0.05. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. ON Semiconductor had a net margin of 26.69% and a return on equity of 33.78%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $1.45 earnings per share. On average, research analysts forecast that ON Semiconductor Corporation will post 5.13 EPS for the current year.

Insider Activity

In other news, CAO Bernard Raymond Colpitts, Jr. sold 2,795 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $99.18, for a total value of $277,208.10. Following the transaction, the chief accounting officer now directly owns 32,050 shares of the company’s stock, valued at $3,178,719. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. B. Riley upped their target price on shares of ON Semiconductor from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Citigroup upped their target price on shares of ON Semiconductor from $118.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. BNP Paribas downgraded shares of ON Semiconductor from an “outperform” rating to a “neutral” rating and set a $95.00 price target on the stock. in a report on Wednesday, October 4th. Morgan Stanley cut their price target on shares of ON Semiconductor from $110.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 31st. Finally, KeyCorp cut their price target on shares of ON Semiconductor from $125.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, October 31st. Thirteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Get Our Latest Stock Report on ON

ON Semiconductor Profile

(Free Report)

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.

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Institutional Ownership by Quarter for ON Semiconductor (NASDAQ:ON)

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